Fannie Mae 2013 Annual Report Download - page 258

FANNIE MAE
(In conservatorship)
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - (Continued)
F-34
For the Year Ended December 31,
2013 2012
Number of
Loans Recorded
Investment(1) Number of Loans Recorded
Investment(1)
(Dollars in millions)
Single-family:
Primary (2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45,539 $ 6,978 46,824 $ 7,828
Government (3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 130 17 200 33
Alt-A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,601 1,732 8,848 1,761
Other (4). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,093 685 4,011 948
Total single-family . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 58,363 9,412 59,883 10,570
Multifamily . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 64 7 35
Total TDRs that subsequently defaulted . . . . . . . . . . . . . . . . . . . . . 58,372 $ 9,476 59,890 $ 10,605
__________
(1) Recorded investment consists of unpaid principal balance, unamortized premiums, discounts and other cost basis adjustments, and
accrued interest receivable. Represents our recorded investment in the loan at time of payment default.
(2) Consists of mortgage loans that are not included in other loan classes.
(3) Consists of mortgage loans guaranteed or insured, in whole or in part, by the U.S. government or one of its agencies that are not Alt-A.
(4) Includes loans with higher-risk characteristics, such as interest-only loans and negative-amortizing loans, that are neither government
nor Alt-A.
4. Allowance for Loan Losses
We maintain an allowance for loan losses for HFI loans held by Fannie Mae and loans backing Fannie Mae MBS issued from
consolidated trusts. When calculating our allowance for loan losses, we consider our net recorded investment in the loan at
the balance sheet date, which includes interest income only while the loan was on accrual status.